Record-Breaking Sales
NTIC's first quarter consolidated sales reached a record $21.3 million, a 5.7% increase year-over-year, driven by Natur-Tec's 22.8% sales growth and improvements in China.
Natur-Tec Growth
Natur-Tec sales increased by 22.8% year-over-year to a quarterly record of $5.9 million, with growth driven by new customer wins in North America and India.
Gross Margin Improvement
Gross profit as a percentage of net sales improved by 200 basis points to 38.3% due to successful initiatives to address inflationary pressures.
Zerust Oil & Gas Sales Growth
Zerust Oil & Gas sales on a trailing 12-month basis increased by 20.3% to $9.2 million, reflecting growing demand.
Investment in Sales Infrastructure
Strategic investments were made to expand oil and gas sales infrastructure, with expected accelerated sales in the second half of fiscal 2025.